Carmel Highlands, Big Sur & South Coast

831.624.2300 montereycoastrealty.com

Dolores and Seventh Carmel-by-the-Sea

Monterey Market Update

Average sales price in Monterey held strong ($1.25M), topping 2022’s full-year average. Median sales price also reached a record high at over $1.2M. This shows prices are not adjusting in this area. This is also proven by the movement of homes from the $800K-$1.2M range up into the $1.2M-2M range, with 40% of sales in Q1 falling in the latter. While prices remain strong, the number of sales fell to 42, less than half the sales we saw in Q1 2022 and the lowest dating back to 2010.

$1,254,137 10.8% vs Q4 2022 1.1% vs Q1 2022

$52.7M

SALES VOLUME

AVERAGE SELLING PRICE UNITS SOLD DAYS ON MARKET

1.1% vs Q4 2022

53.9% vs Q1 2022

42 8.7% vs Q4 2022

54.3% vs Q1 2022

24 31.4% vs Q4 2022

4.3% vs Q1 2022